1,375 Shares in Dover Co. (NYSE:DOV) Purchased by Bridges Investment Management Inc.

Bridges Investment Management Inc. acquired a new position in Dover Co. (NYSE:DOV) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,375 shares of the industrial products company’s stock, valued at approximately $258,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Metis Global Partners LLC grew its position in shares of Dover by 5.0% during the 4th quarter. Metis Global Partners LLC now owns 4,621 shares of the industrial products company’s stock worth $867,000 after buying an additional 219 shares during the period. SVB Wealth LLC acquired a new position in shares of Dover during the 4th quarter worth about $2,980,000. Mutual of America Capital Management LLC grew its position in shares of Dover by 1.0% during the 4th quarter. Mutual of America Capital Management LLC now owns 44,312 shares of the industrial products company’s stock worth $8,313,000 after buying an additional 441 shares during the period. Waterway Wealth Management LLC grew its position in shares of Dover by 37.3% during the 4th quarter. Waterway Wealth Management LLC now owns 2,158 shares of the industrial products company’s stock worth $405,000 after buying an additional 586 shares during the period. Finally, QRG Capital Management Inc. grew its position in shares of Dover by 62.9% during the 4th quarter. QRG Capital Management Inc. now owns 89,155 shares of the industrial products company’s stock worth $16,725,000 after buying an additional 34,430 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on DOV shares. Oppenheimer restated an “outperform” rating and set a $225.00 target price (up from $220.00) on shares of Dover in a research report on Friday, January 31st. Royal Bank of Canada boosted their price objective on Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a research report on Friday, January 31st. StockNews.com lowered Dover from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Wells Fargo & Company boosted their price objective on Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Finally, The Goldman Sachs Group boosted their price objective on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Dover currently has an average rating of “Moderate Buy” and a consensus price target of $218.91.

Dover Trading Down 2.9 %

NYSE DOV opened at $192.99 on Tuesday. The stock has a market capitalization of $26.48 billion, a price-to-earnings ratio of 9.92, a PEG ratio of 2.06 and a beta of 1.24. The stock’s 50 day moving average price is $196.14 and its two-hundred day moving average price is $193.61. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. Dover Co. has a 52 week low of $166.20 and a 52 week high of $222.31.

Dover (NYSE:DOV) last released its earnings results on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, meeting the consensus estimate of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. As a group, analysts anticipate that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Friday, February 28th. Dover’s dividend payout ratio is currently 10.59%.

Dover Profile

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.